11 Plc (Mobil Nigeria) declares dividend of N8.25 per share

11 Plc (formerly Mobil Oil Nigeria Plc) has announced a dividend of N8.25 for every 50 kobo share for the period ended December 31, 2019.

The company announced this is a notification that was sent by to the Nigerian Stock Exchange (NSE) on September 3, 2020, and signed by the Company Secretary, Chris-Olumayowa Meseko.

‘’A dividend of N8.25k for every share of 50k, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 29 day of September 2020,” the statement read.

‘’The Register of Shareholders will be closed on September 30 to October 5, 2020 (both dates inclusive).’’

The dividend, the company said, will be paid electronically on October 15, 2020, to shareholders whose name appear on the Register of Members as at September 29, 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

It advised shareholders who are yet to complete the e-dividend registration to download the Registrar’s E-Dividend Mandate Activation Form which is also available on the website of the Registrars, and then complete and submit to the Registrar or their respective banks.

The company also advised shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are to complete the e-dividend registration or contact the Registrar.

The statement also disclosed that the Company’s Annual General Meeting will be held at the Lagos Hall, Transcorp Hilton Hotels, Abuja on October 14, 2020, at 11.00 am.

Recall that 11 Plc, in its full-year 2019 financial statement declared revenue of N191.676 billion, a 16% increase compared to the N169.610 billion that was recorded for the corresponding period in 2018.

The profit before tax dropped from N13.695 billion for full-year 2018 to N13.123 billion for the corresponding period in 2019. This shows a 4% drop.

Its profit after tax as at December 31, 2019, was N8.856 billion. This shows a 5.1% drop when compared to the N9.329 billion that was recorded for the corresponding period in 2018